HF made a working product (please try to keep up). The bankruptcy was due to an unfortunate confluence of adverse business conditions and early missteps like the first board rev.
Have you really never seen a tech company fail despite having a superior product? I believe you have, but are just being dishonest.
And those early missteps are not to blame to incompetence? They royally screwed up the first batches of boards, 1/4 of them arriving worked at the promised specs. It's only a superior product if it actually works for the customer, not on the drawing board